ORLANDO, Fla., Dec. 9, 2016 /PRNewswire/ -- Marriott Vacations
Worldwide Corporation (NYSE: VAC) today announced its board of
directors authorized a quarterly cash dividend of $0.35 per share of common stock, an increase of
16.7 percent over the previous quarterly dividend of $0.30 per share. The dividend is payable on
January 4, 2017 to shareholders of
record as of December 22, 2016.
"The over 15 percent increase in our dividend reflects our
continued commitment to return capital to shareholders through a
balanced approach of quarterly dividends and opportunistically
buying back shares," said Stephen P.
Weisz, president and chief executive officer.
The Board also approved a resolution changing the company's
fiscal year to a calendar year-end beginning with 2017. The company
believes these changes will allow the simplification of transaction
and reporting processes to support future growth. The company will
not restate historical results as a part of this change. The
company's fiscal year 2017 will begin on December 31, 2016 and
will end on December 31, 2017.
About Marriott Vacations Worldwide Corporation
Marriott Vacations Worldwide Corporation is a leading global
pure-play vacation ownership company, offering a diverse portfolio
of quality products, programs and management expertise with over 60
resorts. Its brands include Marriott Vacation Club, The
Ritz-Carlton Destination Club and Grand Residences by Marriott.
Since entering the industry in 1984 as part of Marriott
International, Inc., the company earned its position as a leader
and innovator in vacation ownership products. The company preserves
high standards of excellence in serving its customers, investors
and associates while maintaining a long-term relationship with
Marriott International. For more information, please visit
www.marriottvacationsworldwide.com.
Logo -
http://photos.prnewswire.com/prnh/20130702/CG40568LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/marriott-vacations-worldwide-corporation-announces-increase-of-over-15-percent-to-quarterly-cash-dividend-board-also-approves-adoption-of-calendar-fiscal-year-beginning-in-2017-300375680.html
SOURCE Marriott Vacations Worldwide